Walmart to Increase Prices Due to Trump Tariffs
By: Ahmad Austin Jr. (Mediaite)
S E E D E D C O N T E N T
Walmart will soon begin increasing prices across its inventory in response to the tariffs imposed by President Donald Trump.
The announcement was made during a Thursday morning call with investors. On the call, company executives to expect the increases as "post-tariff" inventory arrives in stores. Walmart was previously able to avoid significant price hikes due to the fact that much of its inventory had been purchased prior to the tariffs.
CNN business and politics correspondent Vanessa Yurkevich joined The Situation Room with Wolf Blitzer to break down the earnings call:
Wolf, America's largest retailer, largest employer — and, really, a bellwether for the U.S. economy — posted strong sales growth in the 2nd quarter, but definitely faced some headwinds from tariffs. And we saw that profits in the second quarter did not meet Wall Street's expectations; and that's actually why you see Walmart stock down right now about four-and-a-half percent.
Listen, tariffs was the big point of conversation on this one hour call with investors. A lot of questions about what price pressures were going to be trickling down to consumers. You had the CEO Doug McMillon of the company saying that so far, tariff impacts have been gradual so consumers haven't reacted so much to price hikes; but where they're now putting out post-tariff inventory and they're going to see price level increases on a week-to-week basis. So that's obviously concerning for the company.
Walmart has hinted at price increases for months, prompting outbursts from the president on social media. In one post, Trump urged the company to simply "eat" the tariffs and not raise consumer prices.
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2 main things to take from this.
1 other thing to expect is that when the tariffs are lowered or removed when Trump is gone, the subsequent prices will lower very slowly and not for the full amount. Trump is giving retailers an excuse to jack it to the consumers again.
I would change that to say "some" will do that. Many will not.
Why? Because if they raise prices and their competitor (That sells the same product) doesn't they will lose business.
Is it really optimism? I think it's just hoping that those robbing the dead on the battlefield will be a bit merciful and finish the job if they find anyone still squirming.
The tariffs will have an impact regardless of which side of the aisle you call home. Sadly, on top of that impact, there are also going to be those taking advantage of the unnecessary war to make a profit since with uncertainty also comes opportunity for the unscrupulous. And if there is a thing that Trump and his supporters seem to not even understand let alone have, it's scruples.
Capitalism at its finest.
Oh yes, the vampires of wall street.
oh boy I see I will have to school Mr G on why everything is so gd expensive....
And apparently the full effect of tariffs are not yet being fully felt. (It will gradually get worse in the next few months).
Walmart is too big to care what Trump thinks.
They actually care more what Trump does, Also they care what their competitors are doing.
All the more reason to buy American.
Will "American" match the Walmart prices ?
If you can find it....
Yes. You just have to know how to shop.
Looking for a new TV. Can you advise on a quality American brand???
For some things. In some cases on some items they still may be cheaper to buy non-American. In addition, in a few rare cases people might want to buy some items that just aren't produced here.
So you are telling everbody the tariffs arent a problem.
Talk about driving a Mack Truck through the eye of a needle.
Krishna offered the reasonable suggestion that not every item will be affected by tariffs and that it is possible that some domestic products are cheaper than foreign imports.
That is entirely different from claiming that tariffs are not a problem.
Your comment implies a stubborn refusal to accept facts that do not comport with your wishes.
This ....
.... is a terrible way to operate.
Its amazing that so many people do not realize that there are many millions of Americans who require low prices on consumer stuff. Not "desire", need.
I agree, that is why i don’t understand your stance on illegals. They take resources we could use to help the millions of Americans that need help. Americans should be a priority over any and all foreigners.
Some businesses prefer to higher immigrants. Why? because in some cases they will do difficult jobs-- and for much lower wages that Americans demand.
And in some cases where the business is unionized, the business can save money by hiring immigrant (non-Union) labour. In some cases that's illegal but in certain industries its widespread,
[✘]
Nah, this is just more bullshit from 'the left'. More fake news. No way could Trump's tariffs cause prices to rise. After all, it is the foreign nations who pay the tariffs. Trump knows what he is doing ... he is just so smart that normal people cannot understand his brilliance. The Donald works in mysterious ways.
True.
(In fact nobody's ever seen anything like it!)
In any event-- thanks you for your attention to this matter!
After 40 year high inflation and record costs from the previous four years now you are concerned about higher costs? Hilarious!
Your presumption that higher prices was not a concern for those not in the Trump cult is flawed. Seems to me that most of the electorate viewed high prices as one of the top issues for the election. It was even a key campaign point for Harris.
Trump, if you recall, promised to bring prices down ... quickly. Instead, he engages in gratuitous tariffs which are and will continue to drive prices up.
My “presumption” was based on empirical data observed here on NT. Few if any here that are bagging on Trump right now we’re bagging on Biden back then. It was usually someone/something else’s fault. The was the narrative here with those folks.
So not a presumption at all. Try again.
Do you have anything to say about Walmart announcing they will raise prices? The article isnt about what you think of Newstalkers.
The only hypocrisy on display above is that of MAGA who bagged hard on President Biden when Covid and Putin's war in Ukraine induced a worldwide disruption of supply chains which then caused inflation everywhere in the world now give Trump a complete pass for Trump's own tariff induced and US specific inflation!
Which be more widespread than many people realize.
Some people (of both parties!) don't take responsibility for their actions. Other people do.
(Guess which group is more sucessful in life...?)
Tariffs are inflationary. Things that are tariffed become more expensive. Someone has to pay it.
(Yes, some businesses "eat the cost". Some don't. In addition, certain businesses get "carve outs"-- they are excused by the gov't from paying tariffs-- or get price breaks),
Economists have a saying:
In a tariff war there are no winners.
Promises made, promises kept!
And don't forget how he ended the Wars in Ukraine, Gaza in his first day in office (Oh I almost forgot how he ended that blow up between India and Pakistan.
(People are saying he should be nominated for the Nobel Peace Prize!!!)
And he keeps repeating that the war never would have happened if he was PotUS.
Trump routinely makes unfalsifiable claims and claims that are entirely ambiguous. We are stuck with an incompetent criminal con-man bullshit-artist as PotUS for 3 1/2 more years. Never thought I would see this in the USA.
We, the US, were supposed to be better.
Why would I? I’ve got no reason to armchair quarterback their operation. I’m not on their board of control. It’s a free market. They are free to make such decisions for their own reasons. Again, why are you suddenly so concerned about cost increases? Don’t recall you starting any similar discussions during the Biden administration regarding much higher cost increases. Seems very hypocritical.
I didn’t say Newstalkers. I was referring to people posting on Newstalkers as empirical evidence. See above.
Because these price increases were a result of a pointless and stupid notion by the current PotUS. An unforced error.
Then why opine on anything?
opinions on that vary buy one could have the same opinions about many of Bidens actions. And yet, radio silence when that happened. Near total silence. One still wonders why the left was so silent during Bidens record 40 year high costs.
Because.
Deflection to Biden, pitiful.
Do you accept the fact that tariffs increase consumer prices? Do you recognize that Trump’s tariffs were unnecessary.
Can\t there be some kind of law that could be used to deport Trump to the land of his ancestors?
Then why are you commenting on this article?
Nah, the pitiful thing is the denial at play related to cost and fee increases during the Biden administration. It’s not deflection. It’s a apt comparison regardless of attempts to characterize it otherwise
Sure but discussion of higher consumer prices only of tariffs, is a pathetically inadequate analysis of their total net effect. Interestingly cost increases related to tariffs are minuscule compared to increases during the Biden administration. And yet, the usual left leaning talking heads here were largely silent to that. Oh yeah, now we hear about higher costs. Pathetic.
No but opinions do vary I suppose.
I was answering a question. You have a problem with that now?
Where do you see denial that inflation took place under Biden's watch and that government spending was a factor?
Another strawman from you.
That is not the analysis. The analysis is that Trump has imposed unnecessary tariffs and started trade wars when one of his key priorities was to lower prices.
Face the facts instead of this endless pitiful deflection and feeble attempts to defend Trump.
‘I was answering a question. You have a problem with that now?’
It normally becomes a problem when the answer you give correctly is an answer they don't want to hear or see.
If someone was foolish enough to believe Trump’s claim (that he could stop that war in 24 hrs.) it raises an interesting question.
If he could do that . . . then why didn’t he? 🧐
Yes, it’s very embarrassing so many progressives took that literally. Very sad.
I doubt progressives voted for Trump, and certainly that they took Trump seriously.
It is without a doubt embarrassing for Trump supporters to see the stark contrast between what Trump promises vs. what he actually delivers. And if you suggest that people did not believe Trump's myriad promises as at least in the ballpark, then on what basis did they vote for him?
You wish. I base it on observation and memory. Please lie to us and say you hammered on Biden like you are on Trump right now. Not a strawman. Actually the exact opposite of a strawman. A steelman argument.
Your opinion is noted, again and still disagreed with. Again.
The only people who took that as a literal promise are progressives,
Why would I do that? But obviously you seem to think that Trump's criticism-worthy words and deeds are no worse than Biden's. If so, that is some mighty powerful partisan bias at play IMO.
Basically, another nuh-uh from you.
You keep ignoring the point:
Of course you will refuse to acknowledge the stark difference between what Trump promised / promises and what he actually delivers.
Why would anyone hammer on Biden the way they hammer on Trump? The concept is absurd.
That kind of response (@7.1.23) is basically 'I really do not have a rebuttal so I will just make up a false reality'.
Trump does it all the time, so ...
As I've yOu aren't actually talking about a promise so that's not really relevant.
But if your point is a politician fell short of what he "promised," .... umm Okay. Trump the first politician you ever came across?
It's really the inability to even recognize what happened during Biden's four years that I find most surprising. Almost a mental block keeping them from recognizing how crazy their lies got.
The idea that Biden is as big of a crook, cheat, moron, liar , and bigot as Trump is bizarre. This is basically why we call MAGA a cult.
As usual, you downplay Trump's actions and attempt to cast them as normal rather than extreme. Always trying to defend / excuse Trump.
Basically not.
Still defending that senile old man? Sad.
when are we supposed to take his words literally?